BlackRock CEO Larry Fink has recently expressed his support for Bitcoin in an interview with Fox Business. This comes after BlackRock Inc refiled for a Spot Bitcoin ETF earlier this week. Currently, the world’s largest cryptocurrency by market cap is up close to 90% versus the start of the year.
Fink has had a change of heart when it comes to Bitcoin. After once dubbing it an index of money laundering, he now believes it could be digitalizing gold as a hedge against inflation.
BlackRock Inc has $9.5 trillion in assets under management. The asset manager has a long history of getting regulatory approval for exchange-traded funds it has filed for, leading many experts to believe that a Spot Bitcoin ETF could be on the horizon.
Larry Fink has said that the foundation of BlackRock is about hope. He believes that Bitcoin is an investment for retirement since people have faith that tomorrow will be better than today.
